【摘 要】
：
We propose a state-stewardship view to explain Chinas internationalization with a focus on outward foreign direct investment (OFDI).Central to our state-stewardship view-of OFDI are:(1) the state-firm
【机 构】
：
Tilburg University School of Business, Nankai Uni
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We propose a state-stewardship view to explain Chinas internationalization with a focus on outward foreign direct investment (OFDI).Central to our state-stewardship view-of OFDI are:(1) the state-firm-manager relationship,(2) the organizing principles of the state-oriented OFDI,(3) the unique incentive structures and enforcement mechanisms of the enterprise managers in conducting the state-oriented OFDI,and (4) the economic and political driving forces of the Chinas OFDI.We test several hypotheses developed under the state-stewardship view-using a large sample of all non-financial companies listed in mainland China during 2001-2006 with detailed information on internationalization,corporate finance,ownership structure,managerial background and political connection.
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